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9 YEAR 19-Jan-22
<br /> Greenleaf Holdco
<br /> South Bend Portage Township
<br /> Real Property Tax Abatement Schedule*
<br /> Tax Key Number Multiple
<br /> Current Assessed Value: 0
<br /> Estimated Project Cost: 12.000,000
<br /> Current Without 100% 100% 100% 100% 100% 90% 80% 70% 60%
<br /> Assessed Value: AV&Tax Abatement Year 1 Year Z Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9
<br /> Current Assessed Value 100% 0 0 0 0 0 0 0 0 0 0 0
<br /> Base Assessed Value 80% 9,600,000 9,600,000 9,600.000 9,600.000 9,600,000 9,600.000 9,600,000 9,600,000 9,600.000 9,600,000
<br /> Less Abatement Deduction 0 (9,600,000) (9,600,000) (9,600,000) (9,600,000) (9,600.000) (8,640,000) (7,680,000) (6,720,000) (5.760,000)
<br /> Net Assessed Value 0 9,600,000 0 0 0 0 0 960,000 1,920,000 2,880.000 3,840,000
<br /> Property Taxes:
<br /> Assume constant tax rate of 5.3909% 5.3909% 5.3909% 5.3909% 5.3909% 5.3909% 5.3909% 5.3909% 5.3909% 5.3909% 5.3909%
<br /> Gross Tax(tax rate x net assessed value) 0 517.522 0 0 0 0 0 51,752 103,504 155,257 207,009
<br /> Less Circuit Breaker Credit 0 (229,522) 0 0 0 0 0 0 0 0 0
<br /> Net Tax 0 288.000 0 0 0 0 0 51,752 103,504 155,257 207,009
<br /> Circuit Breaker Cap
<br /> Circuit Breaker 3.0000% 0 288,000 288,000 288,000 288,000 288.000 288.000 288.000 288,000 288,000 288,000
<br /> Debt Service 0.0000% 0 0 0 0 0 0 0 0 0 0 0
<br /> Circuit Braker Cap 0 288,000 288,000 288,000 288.000 288.000 288.000 288,000 288.000 288,000 288.000
<br /> New Combined Net
<br /> Existing Project Existing&New Tax Tax
<br /> Year Taxes Taxes Taxes Abated Paid
<br /> 1 0 288,000 288,000 288,000 0
<br /> 2 0 288,000 288,000 288,000 0
<br /> 3 0 288,000 288,000 288,000 0
<br /> 4 0 288,003 288,000 288,000 0
<br /> 5 0 288,000 288,000 288,000 0
<br /> 6 0 288,000 288,000 236,248 51,752
<br /> 7 0 288,000 288,000 184,496 103.504
<br /> 8 0 288,000 288,000 132,743 155.257
<br /> 9 0 288,000 288,000 80,991 207,009
<br /> Totals 0 2.592,000 2.592,000 2.074,478 517,522
<br /> 'This schedule is for estimation purposes only and assumes constant tax rates. The true tax values
<br /> will ultimately be determined by the actual assessed valuation and the then current tax rates.
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